Dear Ralph: Now that crude oil prices are down below $40 per barrel, I’m trying to figure out why we’re still paying such high...

Dear Ralph:
Now that crude oil prices are down below $40 per barrel, I’m trying to figure out why we’re still paying such high prices for injection oil. I complained to my dealer, and he told me it wouldn’t be going down anytime soon, but just the opposite; he had received word that the oil prices would instead be going up! I think we’re getting hosed. What do you think?
Darnel Henry
Washington

Doesn’t make much sense now does it. I have heard the same thing, that oil-based products will be going up, not down. The reason? Unlike crude oil prices, which have fallen significantly, the prices of the commodity chemicals used to make our oil-based products continue to rise. You know as well as I do that they’re not going to take a loss, so if this is true then we will all likely be paying higher prices not only for injection oil but any type of processed lubricants.

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